Impact Amplifier conducted a series of three-day investment readiness boot camps in 2016 on behalf of the Climate Innovation Centre (CIC). These boot camps were held in various locations throughout the country to support the CIC’s community of “green” entrepreneurs. Post the boot camps, a small group of high potential entrepreneurs were identified for further support from Impact Amplifier to prepare a grant request to the Green Fund. This is a national fund designed to support South Africa’s transition to a low carbon, resource efficient and climate resilient development path. The Fund provides catalytic capital to facilitate investment in green and climate friendly initiatives for poverty reduction and job creation.
Impact Amplifier supported nine businesses in this process and we are pleased to announce that from the first round of submissions made to the Green Fund, two businesses were awarded grants of R1 million each:
• Ducere – has created the MISER technology, which is a hydraulic hybrid transmission system designed for all vehicles to recover and store the kinetic energy typically lost while braking. Once captured, the energy is sent back to the wheels at the optimum time so that the vehicle draws power from the hydraulic system, rather than the engine.
• EcoV – has created the Green Tower, which offers residential water heating and lighting by combining solar heat pumps, thermal collectors, and PV. The design is modular allowing it to scale from a single household to apartment blocks to multiple buildings.
Over the next few months, the balance of the businesses Impact Amplifier supported will be reviewed for consideration by the Green Fund’s investment committee. Congratulations again to Ducere and EcoV!